Press releases

The Bank of Canada today released its July Monetary Policy Report Update. In it, the Bank described three major developments affecting the Canadian economy: protracted weakness in the U.S. economy, ongoing turbulence in global financial markets, and sharp increases in the prices of certain commodities, particularly energy.

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 3 per cent.

The Bank of Canada today announced the appointment of Angelo Melino, Professor in the Department of Economics at the University of Toronto, and Frank Milne, BMO Professor of Economics and Finance in the Department of Economics at Queen's University, as Special Advisers for the year 2008-09.

The best contribution that the Bank of Canada can make to help all Canadians reap the benefits of the current commodities boom is to remain focused on achieving its inflation target, Governor Mark Carney said today in a speech to the Commodities, the Economy, and Money conference.

The Bank of Canada today announced that it is maintaining its target for the overnight rate at 3 per cent.

Central banks have been more active in providing liquidity support for key markets throughout the recent financial market turbulence because well-functioning markets are important for the conduct of monetary policy and the efficient operation of the economy, Bank of Canada Governor Mark Carney said today in a speech to the New York Association for Business Economics.

The Centre for Latin American Monetary Studies (Centro de Estudios Monetarios Latinoamericanos or CEMLA) concluded its Governors' Meetings today, hosted by the Bank of Canada.

The Bank of Canada and the Toronto Police Service are reminding the public and retailers to pay close attention to the bank notes they receive. A number of counterfeit $100 notes have been passed mainly in the Greater Toronto Area in the last few weeks.

Bank of Canada today released its April Monetary Policy Report, which discusses current economic and financial trends in the context of Canada's inflation-control strategy.

The Bank of Canada today announced that it is lowering its target for the overnight rate by one-half of a percentage point to 3 per cent.